Core Insights - Castellum, Inc. reported a revenue of $11.3 million for Q1 2024, showing a slight increase from $11.1 million in Q4 2023 [2] - The company's gross profit for the same period was $4.5 million, down from $4.6 million in the previous quarter [2] - Operating loss for Q1 2024 was $(2.7) million, compared to $(1.5) million in Q4 2023, indicating a deterioration in operating performance [2] Financial Performance - The Non-GAAP measure, Recurring Cash Operating Profit (Loss) (RCOP), was approximately $(0.1) million for Q1 2024, which excludes non-cash charges [3] - Non-cash charges included stock-option and warrants expense of $1.7 million and depreciation and amortization of $0.6 million [3][12] - Total non-cash charges for Q1 2024 amounted to $2.5 million, leading to a Non-GAAP RCOP of $(134,361) [12] Management Commentary - The President and CEO of Castellum highlighted important financial progress in Q1 2024, particularly in strengthening the balance sheet through financing transactions [5] - The company aims to convert its large pipeline of opportunities into contract wins and improve profitability and RCOP throughout 2024 and into 2025 [5]

VIENNA, Va,, April 18, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (NYSE-American: CTM), a cybersecurity, electronic warfare, and software engineering services company focused on the federal government, announces a new strategic alliance between its subsidiary Specialty Systems, Inc. ("SSI") (www.specialtysystems.com) and Epic Systems, Inc. ("Epic") (www.epicinfotech.com). The strategic alliance is in the form of a "Mentor-Protégé" arrangement pursuant to applicable rules of the Federal Acquisition Regulation ...

BETHESDA, Md., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Castellum, Inc. (the "Company") (NYSE-American: CTM), a cybersecurity, electronic warfare, and software services company focused on the federal government today announced the closing of its previously announced registered direct offering, consisting of the sale of 8,437,501 shares of common stock (or pre-funded warrants in lieu thereof). In a concurrent private placement, the Company also agreed to issue and sell to the investor warrants to purchase up to 8,4 ...